H&M shares fall as sales figures fail to allay concerns

Shares in Sweden’s H&M, the world’s second-biggest fashion retailer, fell after quarterly sales growth matched forecasts but failed to allay longer-term market concerns over margins and inventory.

H&M has seen profits shrink and inventories bank up in recent years as footfall slowed at its core-brand stores in the face of a shift online and mounting competition, while the firm has struggled to react quickly enough to demand swings.